Technology has directly changed the way we interact with each other, the way we apply for jobs, the way we buy cars and clothes, so it should come as no surprise that technology is also changing real estate. For the most part, technology is making real estate more accessible for all involved. 95% of home buyers search for a home online and 51% find their dream home that way. Below are four ways that technology has already changed the industry.
Every real estate website now has an app that will instantly alert sellers when new properties in their search criteria are available. These apps will show you the kind of neighborhood the property is located in, what schools are nearby, the salary a person should make to be able to afford the house and even make it easier for the buyer to contact the agent and arrange a viewing.
New technology makes it possible for a potential buyer to walk-through the house without actually having to leave their own home. They can experience for themselves how large the property is, how high the ceilings are and see the size of the windows. This is especially helpful for buyers who have busy schedules and are unable to make any showings. They can experience the property in their own time and still feel that they have a good understanding of the space, without actually having stepped foot into it.
The popularity of crowdsourcing has made its way into real estate. New websites are making it possible, and easy, for everyone to invest in high-quality real estate by pooling their resources. One such company is Fundrise.com. This platform allows someone to invest in a real estate portfolio identified and managed by their team of professionals.
The existence of social media makes marketing and communication better for real estate agents. They can use these platforms to promote their brands, advertise listings to a larger and more personal audience, and interact with other agents about market trends and updates. Real estate companies can utilize a wide variety of platforms to boost their business; agents can share photos of available homes on Instagram and promote listings on Twitter.
The rise of technology shows no signs of slowing down anytime soon. In this new digital age, it is crucial for real estate agents and companies to understand the importance of being up-to-date on all of the ways technology will impact the real estate market. Knowing the best ways to utilize these changes will help real estate agents to stay relevant in an age where the person is being faded out.